UltraTech Cement Limited (ULTRACEMCO) AI Stock Analysis

• Market Cap: ₹3.74T
• Dividend Yield: 0.61%
• Average Volume (3M): 6.72K
• Price to Earnings (P/E): 53.1
• Beta (1Y): 1.31
• Revenue Growth: 8.32%
• EPS Growth: -1.57%
• Country: IN
• Employees: 23,670
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 75.61
• Shares Outstanding: 294,679,170
• 10 Day Avg. Volume: 6,070
• 30 Day Avg. Volume: 6,722
• PEG Ratio: -3.53
• Price to Book (P/B): 4.69
• Price to Sales (P/S): 4.36
• P/FCF Ratio: 214.57
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹13,339.50
• Price Target Upside: 6.55% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12

• Rating: 74 Outperform
• Price Target: ₹13,830.00 ▲(10.47% Upside)

UltraTech Cement Limited's overall stock score is driven by strong financial performance and positive market momentum. However, the high P/E ratio and potential overvaluation are concerns. The company's ability to maintain financial stability despite rising debt levels is commendable, though careful monitoring is advised.

UltraTech Cement Limited Business Overview & Revenue Model

Company Description

UltraTech Cement Limited, together with its subsidiaries, manufactures and sells cement and cement related products in India. It offers ordinary Portland cement, Portland blast furnace slag cement, Portland Pozzolana cement, white cement, and white cement-based products; and ready-mix concrete. The company also provides Tile Adhesive polymer under TILEFIXO, FLEX, HIFLEX,MYKROFILL, Seal & Dry water proofing products for kitchen balconies, chajjas, slope roofs, bathrooms, canal linings, swimming pools, and water tanks; Power Grout, an industrial grout for machine foundation, precast elements, and safety vaults; Readi Plast and Super Stucco, a plastering agent for internal and external walls; as well as liquid system for mortar and concrete modifier, repair mortars and concrete under the name of Basekrete and Microkrete. In addition, the company offers bed jointing material for AAC block, Fly Ash Bricks, and concrete blocks, and light weight block for masonry construction, and flooring screeds. Further, the company offers construction products for home builders; and value-added services that include technical advice during concreting, vaastu consultancy, various training programs, and other related services. UltraTech Cement Limited exports its products to the United Arab Emirates, Bahrain, and Sri Lanka. The company was incorporated in 2000 and is based in Mumbai, India. UltraTech Cement Limited operates as a subsidiary of Grasim Industries Limited.

How the Company Makes Money

UltraTech Cement Limited generates revenue primarily through the sale of its core products: grey cement, ready mix concrete (RMC), and white cement. The company operates an extensive network of manufacturing plants and distribution centers, enabling it to efficiently supply cement products to various markets. UltraTech benefits from economies of scale and cost efficiencies, enhancing its competitive positioning in the market. The company also engages in strategic partnerships and acquisitions to expand its market presence and production capacity. Additionally, UltraTech leverages its strong brand reputation and quality standards to maintain customer loyalty and command premium pricing in certain segments. The revenue streams are diversified across domestic and international markets, with a significant portion derived from the robust demand in India's growing construction sector.

UltraTech Cement Limited Financial Statement Overview

Summary

UltraTech Cement Limited demonstrates robust financial performance with strong revenue growth and healthy profitability margins. The balance sheet is stable, though increasing debt levels require monitoring. Cash flows are strong, supporting operational and strategic investments.

Income Statement

UltraTech Cement Limited has demonstrated robust growth in its income statement with steady increases in total revenue over the past several years, culminating in a 7.12% growth from 2024 to 2025. The gross profit margin is strong, reflecting efficient cost management, although the net profit margin has declined slightly due to increased expenses. The EBIT and EBITDA margins remain healthy, supporting the company's operational efficiency.

Balance Sheet

The balance sheet of UltraTech Cement shows a solid equity base, with an improving equity ratio indicating financial stability. However, the debt-to-equity ratio has increased due to rising debt levels, which could pose a risk if not managed properly. The return on equity is satisfactory, showcasing effective use of shareholder funds to generate profits.

Cash Flow

The cash flow statement reflects a strong operating cash flow, indicating effective cash generation from core operations. There has been a decline in free cash flow, primarily due to increased capital expenditures. Nonetheless, the company maintains a positive free cash flow to net income ratio, ensuring liquidity. The operating cash flow to net income ratio is robust, highlighting the company's ability to convert profits into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	791.61B	759.55B	709.08B	623.38B	517.08B	442.39B
Gross Profit	648.62B	622.51B	216.97B	514.33B	427.10B	362.88B
EBITDA	145.01B	131.94B	135.36B	110.66B	119.65B	120.51B
Net Income	65.68B	60.39B	70.05B	50.64B	73.44B	54.63B
Balance Sheet
Total Assets	0.00	1.34T	1.01T	913.87B	838.28B	861.84B
Cash, Cash Equivalents and Short-Term Investments	43.13B	58.31B	64.03B	84.20B	56.21B	131.75B
Total Debt	0.00	241.02B	114.03B	110.58B	112.99B	217.19B
Total Liabilities	-738.93B	598.04B	405.19B	371.18B	333.96B	420.03B
Stockholders Equity	738.93B	707.07B	602.27B	543.25B	504.35B	441.75B
Cash Flow
Free Cash Flow	0.00	15.44B	18.92B	28.68B	36.70B	105.78B
Operating Cash Flow	0.00	106.73B	108.98B	90.69B	92.83B	125.03B
Investing Cash Flow	0.00	-165.04B	-87.88B	-71.87B	22.57B	-88.59B
Financing Cash Flow	0.00	50.76B	-19.26B	-16.31B	-124.98B	-43.56B

UltraTech Cement Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 12519.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ULTRACEMCO, the sentiment is Neutral. The current price of 12519.25 is below the 20-day moving average (MA) of 12591.14, above the 50-day MA of 12471.03, and above the 200-day MA of 11635.27, indicating a neutral trend. The MACD of 25.50 indicates Positive momentum. The RSI at 49.36 is Neutral, neither overbought nor oversold. The STOCH value of 62.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ULTRACEMCO.

UltraTech Cement Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ULTRACEMCO	74 Outperform	₹3.74T	53.10		0.61%	8.32%	-1.57%
ACC	71 Outperform	352.66B	14.43	12.95%	0.40%	9.72%	8.34%
AMBUJACEM	64 Neutral	1.44T	33.16	7.80%	0.34%	9.41%	8.70%
NUVOCO	60 Neutral	159.35B	104.72	0.24%	―	0.27%	12.09%
SHREECEM	60 Neutral	1.08T	72.73	5.21%	0.37%	-5.54%	-29.27%
RAMCOCEM	57 Neutral	249.09B	78.33	3.66%	0.19%	-7.85%	-0.68%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

UltraTech Cement Limited Corporate Events

UltraTech Cement Reduces Stake in Subsidiary

UltraTech Cement Limited has announced the sale of 1,82,47,148 equity shares in its subsidiary, The India Cements Limited, reducing its stake to 75.60%. This move, executed through an offer for sale via the stock exchange mechanism, is part of UltraTech’s strategic financial management and could impact its market positioning and shareholder value.

UltraTech Cement Announces New Auditor Appointments

UltraTech Cement Limited announced a change in its auditors following the approval of shareholders at the 25th Annual General Meeting. Deloitte Haskins and Sells LLP has been appointed as the Joint Statutory Auditor for a five-year term, while M/s. Makarand M. Joshi & Co. has been appointed as the Secretarial Auditor for the same duration. These appointments are expected to enhance the company’s financial and secretarial audit processes, potentially impacting its operational transparency and stakeholder confidence.